The index for monitoring of reforms (iMoRe) for the first time since the beginning of its existence in January 2015 dropped to a value of zero. During the period of January 9 – 22, 2017 in no component of the index such as public administration, public finance, monetary sphere, business environment and energy sector – no regulations that can be considered reforms were recorded.

For reference: the average value of iMoRe in 2016 dropped to +0.9 points from +1.2 points in 2015 (on a scale from -5 to +5, where a negative value means regress). The index reached its peak in the first half of 2015, when Ukraine led negotiations with the IMF on the new Extended Fund Facility (EFF) program and was preparing for the first payments. In this period, the average value of iMoRe reached 1.4 points.

Chart 1. іMoRe dynamics*

* The iMoRe team considers index value of at least 2 an acceptable pace of reform